Credit card coverage

Some credit cards offer free travel insurance when used to purchase flights or holidays. This usually only occurs on the Gold or higher class of Credit Cards.

Credit Card Travel Insurance is often good enough for a short standard trip but usually have severe restrictions. Often they will limit a trip to 3 months with no possibility to extend. Don’t cover sports such as skiing. Have high excess, especially on driving accidents. The standard excess on credit card travel insurance is often $200 – $500. On regular travel insurance it is often $100 with the option to remove the excess for a small fee.

Also consider the savings when not using your credit card to purchase the trip. Many travel agents and airlines charge high fees for purchases via credit card, up to 5%. For an expensive trip it may be cheaper to actually pay via alternate means and get your own discount travel insurance.

You need to do your own research and compare your credit card travel insurance with your needs. If it matches, great! Otherwise consider purchasing standard travel insurance.

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